Cinven is considering a sale of UK wealth management firm True Potential, reported Bloomberg citing sources.
The private equity firm has held preliminary discussions with possible advisers, people familiar with the matter said.
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A sale could value True Potential at several billion pounds.
Cinven bought a majority stake in the business in 2021, in a transaction that reportedly placed its value at up to £2bn.
No decision has been made, and the discussions may not lead to a transaction, the people said.
True Potential was founded in 2007 and is based in Newcastle.
It provides financial advice and operates its own investment platform. The company manages more than £40bn ($53.3bn) of assets for over 640,000 clients.
Deal activity has increased in wealth management as firms face higher spending on regulation, technology, and operations, encouraging consolidation.
In February, NatWest Group agreed to acquire Evelyn Partners for £2.7bn, including debt.
The two businesses have £127bn in assets under management and administration, alongside £188bn in customer assets and liabilities.
Separately, Reuters reported in September that CD&R and Warburg Pincus were discussing an acquisition of Canaccord Wealth, Canaccord Genuity’s UK wealth business.
The private equity firms were in advanced discussions on a joint offer after emerging as leading bidders in a sale process that began last year, sources said.
In August, EFG International agreed to transfer Harris Allday’s front-end teams and client assets to Canaccord Wealth.
Harris Allday provides wealth management services mainly to affluent customers in the Midlands, with offices in Birmingham, Shrewsbury, and London.
The business manages about £3.1bn ($4.2bn) in assets. It reported revenue of £20.3m in 2025 and employed 77 people on a full-time equivalent basis.
